On Wednesday evening, US President Donald Trump and Iranian President Masoud Pezeshkian remotely signed a Memorandum of Understanding (MoU) aimed at ending the ongoing conflict in the Middle East.
The following outlines the key provisions of the Memorandum:
Paragraph 1: The United States, Iran, and their allies commit to an immediate and permanent cessation of military activities on all fronts, including in Lebanon. There will be no further initiation of military actions or threats of force between these nations, ensuring Lebanon's territorial integrity and sovereignty. The final agreement will enshrine this permanent ceasefire.
Paragraph 2: Both nations pledge to respect each other's sovereignty and refrain from intervening in each other's internal affairs.
Paragraph 3: The United States and Iran will negotiate and finalize the agreement within a maximum of 60 days, extendable by mutual consent.
Paragraph 4: Upon signing, the US will begin lifting its naval blockade and cease impediments on Iran, completing within 30 days. Commercial shipping will resume to pre-war levels, with the US withdrawing its forces from around Iran within 30 days after the final agreement.
Paragraph 5: Iran will ensure safe passage for commercial ships through the Arabian Gulf and Oman Sea without fees for 60 days. Shipping will commence immediately, with Iran addressing technical and military obstacles. Discussions with Oman will outline future maritime service management in the Strait of Hormuz.
Paragraph 6: The US, with regional partners, commits to jointly agree on a minimum $300 billion economic reconstruction plan for Iran, with implementation mechanisms finalized within 60 days.
Paragraph 7: The US will dismantle all sanctions on Iran, including those from the UN and IAEA, under a mutually agreed timeline as part of the final agreement.
Paragraph 8: Iran confirms it will not pursue nuclear weapons, with the US and Iran agreeing to handle nuclear material disposal under IAEA supervision, further discussing Iran's nuclear needs in the final agreement.
Paragraph 9: Until the final agreement, both nations will maintain the status quo, with no new US sanctions or additional military presence in the region.
Paragraph 10: The US Treasury will immediately issue exemptions for exporting Iranian crude oil and related products until sanctions are lifted.
Paragraph 11: The US will unfreeze Iranian assets for full use, with both countries agreeing on the release procedures during negotiations.
Paragraph 12: The creation of an implementation mechanism to monitor compliance with the MoU and final agreement is agreed upon.
Paragraph 13: Subject to the implementation of specified paragraphs, the US and Iran will negotiate the final agreement focusing on remaining issues.
Paragraph 14: The final agreement will be approved through a binding UN Security Council resolution.